The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1887-01-21
GOV. PIER Els MESSAGE.
Text y: the Goveraeess Message 10 the Lesl.Is.
isre " Dakota.
AN AaIs DOCUMENT.

\ An AAlAE DOCUMENT.
The following fs the text of Gov. pierce's
message to the legislature:
Gentlemen OF the Council and House OF Repre-.
sentatives: Once more the legislature OF the
Territory of Dakota has assembled in ubediencc
TO law With few exceptions the faces of those
who compose this general assembly are new to
these halls In the exercise of their SOVEREIGN
+ VIII ana pleasure the people have seen fit to fiji
tne places OF their former servants With other
men. who have Gainesl in daily intercourse With
them their esteem and confidence. But white
the personnel OF law making bodies may change,
{ iegislatiye authority aud responsibility remain.
Men die. officials change, but government en-.
dnres. For the time being this asscmblage il
empowered to speak and act for the JuO.Do0
people VINO comprise the population of this ter
ritory IL 10 g,ave responsibility. How you
shall perform this representative work most
faithfully and effectively, ia question that may
we'll inspire anxious thought and serious re-
hecttons In many respects. gentlemen. you
come here at an auspicions time. and under
period when better aud kinder feel
Ing has prevailed; and In spite of
ths,n,hsre ths hard times INES; 10 generally felt
asseinblaRe OF tho legislature which found the
fiscal concerns OF the territory IN prosperous
ts now SO light as to be scarcely felt by the pco-
pie and can be reduced still further in the near
future. The treasury shows balance on hand
not only sufficient to pay all proper expenses OF
the territorial government and ail reasonable
appropriations, but to pay on all the bonded in
debtcdness OF tho territory. which under the
this time. Ninety thousand dollars of bonds,
which It was provided might be paid by tho ter
rttory q it's option within FIVE years of their
urer. but owing TO the neglect of the law to pro-
vide exactly how this call might be issued, and
under what circumstances interest on such
bonds should thereafter cease. holders have re-
fused to present them for redemption. This
difficulty should be promptly met by the enact
ment OF law permitting the treasurer 20 take
advantage OF the option reserved, aud holders be
required to either refund the bonds at q lower
rate of interest, or present them for redemption
The terrltory Is paying about %i1 per day on
these bonds, which can be stopped at once II the
Legislature will grant the necessary authority
SALE OF BONDS
Tho bon . authorized by the last legislature,
amounting to 81 $4,000. were sold ut ]. O3 2-IO,
and the premium, amounting to %5.63S. 40 was
credited to the territory on the books OF The
treasurer. This il the Hest instance IN the his
tory OF the territory where bonds havo been sold
at premium: indeed as lase as the summer of
1854. similar class of bonds were sold at gS
some respects gratifying, and the growth OF con-
fidence in The financial standing OF Dakota very
encouraging, there Is no question but that the 9
pcr ceut bonds of the territory are worth much
moro than the amount received. Two or three
things have operated to injure. in soms degree
our financial standing: one Ia the fact that Da-
kota Ia still in territorial condition, territorial
bonds being unpopular as rule. Another is
the existence OF the outstanding territorial war
rants issued unde. the law providing for the
capital commission. In some places q non
payment Of these warrants by the treasurer
seemed to give the impression that the terri
tory WIZ either unaule To pay. or else was en-
deavortng to repudiate her obligations. With
the latter obst ncle removed, ] believe that per
cent bonds can be sold atpar, and II long-ti
bonds should be issued tho interest can be made
even less than that named. u will not be q year
before our per cent bonds, having ten years to
run, will be worth at least 4. IL l. Is; nm in
formed that such bonds can not be purchased
to-day for less than Ito. II would no doubt Le
better u our bones were not classed as -Agri.
cultural college bonds. Normal school bonds"
nYSai iaan no mn prul
territory. This would cause no embarrassment
tR any future division OF territorial indebted
ness. for Misrepresentation always states the
object for which bonds are Issued. 1t would
also add to the popularity OF oar securities II tho
time for which they run were made certain in
stead OF optional with the territory. Investors
do mot like to he In doubt as to whether they
have loaned money for five years or ten or
twenty.
RECEIPTS AND EXPENDITURES.
The total receipts from all sources for tho BIZ
ennial period covered by the treasnrer's report.
including balance on hand at the close of 1884,
Vera 81 ,395, 2l6B7 The total amount paid
out for same period was ELL 60, 23I. OIL, leaving
balance III the treasury, Nov. 80, 1856, OF
&232, 9S2 63. Deducting the amount paid to
counties NJ their share OF railroad tax, the
amount OF bonds etc, for permanent improve
Hents OF public institutions aud we have u bal 4
Rnon OF $706. .27S, which represents the amount
expended during tue biennial period. Take
from this the cost OF the constitutional conyen-
ttol, the census, New Orleans exposition, furni-
tnre and heating for capitol, and other extraor-
not required now), and the .tota, expenditure,
less the bond Interest," Is $53s,2T0.T3 for the
ordinary expenses of tho territorial government,
or x264, 20. 80 per year. This sum il divided